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Towns Townhomes will pay a dividend of $2.75 per share next year. The company pledges to increase its divided by 3.5 percent per year indefinitely

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Towns Townhomes will pay a dividend of $2.75 per share next year. The company pledges to increase its divided by 3.5 percent per year indefinitely If you require a return of 7 percent on your investment, how much will you pay for the company's stock today? (Round your final answer to two decimal places) Multiple Choice $8132 $78,57 o 57257 $69.54

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